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Articles by Nathan Lewis

When a government keeps its affairs in order, and acts as if it does not need to rely on money-printing to get by, it actually gets a small advantage from the money-creation process. But when a government declares, via various silly justifications, that it intends to use the printing press to finance itself, it typically finds that it cannot without a currency breakdown.

The beginning of the Keynesian Era can be dated, perhaps, to September 1931 – the year when Britain intentionally devalued the pound, throwing the world into turmoil and currency conflict. Today, we are again in an extended period of economic crisis. However, I suspect that this will turn out to be the end of the Keynesian Era – the time when it is, in fact, Keynesianism itself which destroys us.